What Are Support and Resistance in Crypto Trading ?
If you're diving into crypto trading, support and resistance are two of the most powerful concepts you need to understand. These aren’t just technical terms—they’re the backbone of smart trading decisions.
💰💰What is Support?💰💰
Support is the price level where a coin tends to stop falling. It acts like a “floor” that holds the price up. Traders often buy at support levels because prices are more likely to bounce back from there.
💰💰What is Resistance?💰💰
Resistance is the price level where a coin tends to stop rising. Think of it as a “ceiling” that the price struggles to break through. Many traders sell at resistance levels, expecting a reversal or pullback.
🌟Why Are They Important?
🌹Help you decide when to buy or sell
🌹Improve entry and exit timing
🌹Assist in setting stop-loss and take-profit levels
🌹Reduce risk and improve profit potential
👉Pro Tip: The more times a coin touches a support or resistance level without breaking it, the stronger that level is considered!
Whether you're a beginner or a pro, understanding support and resistance can be the key to unlocking profit and avoiding traps in crypto markets.
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